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Blox Review – Full Analysis
A crypto portfolio is a must-have application for every investor. You want to stay updated with market prices, compare your cryptocurrencies and make decisions at the right time.
Without a portfolio tracker, it’s hard to know how the cryptos you invested in are performing. Your only option is to use multiple websites, have a myriad of apps and subscribe to numerous websites just to stay updated with trends.
Fortunately, there are trading applications that offer everything crypto traders would want. With an Algo trading app, for example, bots do all the hard work for you. They watch market prices and execute buy or sell orders on your behalf. Bots are especially useful to day traders and busy investors who don’t have time to do the trading.
Some apps, like Blox, help you organize your trading resources. A serious investor requires trading apps, portfolio trackers, and wallet apps. These apps help you stay updated with market prices and have the convenience of trading fast when you want to.
Read the Blox review below to find out how the platform works and whether you should install it.
What is Blox?
Blox is a digital assets management application. By using API keys, Blox allows you to access up to seven crypto exchanges on one platform. You can also create a portfolio and manage up to ten of the top 20 cryptocurrencies using Blox wallet.
Founded in early 2017 by a Tel Aviv-based startup, Blox boasts of more than 20,000 downloads on app stores and thousands of registered members on its web platform. Industry leaders like etoro, CIVIC and Aeternity already use the platform. The app has been recommended hundreds of times on forums and attracts high ratings on review websites and forums.
Blox aims to manage more than 10% of all mobile crypto resources by the end of 2018. It has already partnered with more than five institutional traders. Its wide range of helpful services also attracts a lot of mobile-based investors who find asset management daunting.
With its attractive, intuitive user interface, Blox ensures users set the app and synchronize their resources quickly. Only account is needed to access your assets. That means if you love to trade with your mobile device in the evenings and your PC during the day, you don’t need multiple accounts.
Again, instead of juggle from one tab to the other or fill up your smartphone’s space with apps, Blox helps you bring every crypto management resource you need to one platform. Call it a toolbox for crypto assets, but the platform is a useful resource for cryptocurrency traders.
How Blox Works?
Blox uses a file synchronization engine and API technology to access important data from crypto exchanges, wallets, and portfolio tracking apps. With the data, the company is able to provide the same services offered by exchanges and wallets on its platform.
With the addition of file synchronization tools, Blox is able to source important files from your Binance or any other exchange, wallets like Jaxx and portfolios to its platform. Although the whole process makes Blox appears like it has control over your accounts, it does not.
Exchanges, wallets and all other resources supported by Blox permit it to access data without compromising security in any way. API, for example, is a technology offered by almost every exchange nowadays. All Blox is allowed to do is to use the code that helps traders access their accounts, watch market prices and even trade. But Blox does not have any authority to withdraw funds from your account.
However, it’s worth noting that Blox has a multicurrency wallet used on its platform. The wallet and a token called CDT are part of the company’s original innovations. The company has more control over your funds if you use their wallet to transact but everything else is under your control.
Since the platform simply brings your crypto trading resources to one place, you can access any cryptocurrency in your chosen exchanges and wallets. Blox, for example, integrates with Binance, Bittrexx, Kraken, Poloniex and three other top exchanges. By accessing your account in any of the exchanges, there are no limitations as to which cryptocurrencies you can or cannot exchange with Blox.
Are there any limitations?
Limitations are set by the individual wallets and exchanges and not by Blox. Concerning building a portfolio, Blox supports all the major cryptocurrencies. And there is any altcoin you love not supported, you are allowed to import a tracking portfolio that supports that altcoin.
Blox also has an alert system for your portfolio. If you are a trader determined to make market moves by the hour, you can pick cryptocurrencies and set Blox to alert you after the coins gains or lose value by a specific percentage. Let’s you choose Ripple while it’s valued at $0.46. You can set the Blox platform to alert you if ripple moves above $0.5 so that you quickly signup to your exchange and perform a trade.
Blox Coin CDT
Popularly known as the CoinDash ICO, Blox held an ICO in mid-2017 and raised more than $7 million. The crowd sale was first announced in March 2017. Alon Muroch and Adam Efrima co-founded the company and led a team of more than 10 members to create, test and launch the platform.
CoinDash would use the token symbol CDT during and after the crowdfunding campaign. The purpose of the coin was to buy services sold on the CoinDash ecosystem. Such services include expert traders sharing their trading tips, buying bot trading services or purchase smart contracts on the platform’s decentralized ecosystem.
Although Blox ICO raised enough funds to build the intended platform, they later rebranded to Blox. CoinDash was not hyped anyway and most users confused the company as a replica of DASH coin. After the rebranding, Blox decided to retain the CDT token ticker.
Is Blox Safe?
Most applications with high ratings on Google and Apple play stores tend to be safe, secure and reputable. Blox is not different. There are no Blox scam accusations on any platform but there are concerns from users as noted below.
Blox is rated 4.5/5 from 197 users on Google Play Store and 4.6/5 on itunes.com. By any standards, that makes the company one of the best-rated cryptocurrency asset management resources.
Across review Blox websites, the company has a good reputation. The Blox community on Reddit and bitcoin forums like Bittalk.org also loves the service. Of course, there are unsatisfied users, but a majority of Blox users rate the application highly and recommend it to other traders.
The platform’s impressive user interface, ease of organizing apps and a cross-platform account are what impress traders the most. There are few complaints about Blox wallet, nonetheless. Some users have complained of poor customer support, with emails never getting replied for weeks.
The rest of users who don’t use the Blox wallet but instead synchronizes their accounts from other wallets have no complaint about the platform. From a technical perspective, Blox does a commendable job to secure their users’ accounts and to offer a seamless platform with no hitches.
Security- is it secured?
Blox uses API keys to help you access exchanges and wallets from its platform. API keys are read-only keys, meaning that exchanges do not give Blox any authority to access your personal account or make transactions on your behalf.
The security of your crypto assets is protected by the specific wallet or exchange you use. If you are a member of Binance, the security of your assets depends on Binance’s security systems. If Binance gets hacked, you may lose funds in your account but not as a result of any wrongdoing by the Blox platform.
However, traders who use the Blox wallet may lose their funds should Blox ever get hacked. Blox is an online platform after all, which makes it prone to hacking and bugs. But based on the company’s community trust, the Blox wallet is considered secure.
The Blox web platform uses SSL encryption and anti-DDoS security to protect users from malicious attacks. The company is also clear about their access to users’ funds. They provide access to accounts but have no authority to transact on their behalf. Additionally, you must create a password to login into your Blox account.
Blox offers customers services via email. You can contact them at email@example.com or reach out to their Twitter and Facebook groups. Blox also has active Reddit and Telegram channels but some users have had poor experiences with the email customer service channel.
The company’s support team is most active on play stores and Reddit. They often reply to users who need assistance quickly on Google Play Store. Their telegram channel is also active and users there get replies faster than with emailing them.
How to use Blox?
The Web Platform
If you prefer to trade via the web as opposed to mobile apps, here is a guide to help you access the features offered by Blox.
Step 1: Create an Account
Visit blox.io and click the ‘visit web app’ icon. You will be prompted to create an account with a valid email address and your full name. Verify your email address, create a password with at least five characters and log into your account.
Step 2: Sync a Wallet or Exchange
Blox web app has a blue theme but it’s fairly easy to use. The service to sync your wallet or exchange are the first thing you see on the app. If you choose to sync an exchange, a popup form appears and asks you to choose the exchange’s name.
Blox supports 10 wallet addresses including NEO, CoinBase, Bitcoin, Ripple, Ethereum, Litecoin and Bitcoin Cash. Basically, Blox lets trade a specific cryptocurrency from its platform. Alternatively, you can simply create a portfolio with any of the top cryptocurrencies. The portfolio account creation can be accessed via ‘Manual Balance’, just below the features to sync your wallet and exchange.
Another service you can access on Blox is the feature to copy accounts. The app will show you the price movements of your selected coins and even notify when the prices change according to your specifications.
The Blox iOS and Android apps offer every service offered by the web app. All features appear as they do on the web and you follow the process used on the web to access services on the apps. Fortunately, you don’t have to repeat the process when you install a Blox app. The platform is synchronized so that you just import your info and assets on the web to the mobile apps.
Blox Review Summary
Blox is a cryptocurrency asset management platform that can be accessed on the web and on mobile devices. The platform lets users access their accounts on seven of the leading cryptocurrency exchanges on one platform and manage their investments in the top 10 cryptocurrencies in one area.
Blox is also a portfolio tracking service where you can indicate the coins and amounts you have invested to track their progress. The platform is user-friendly, attractive, secure and reputable.
- Attractive web and mobile apps with intuitive features.
- Supports cross-platform access.
- Supports all the major exchanges.
- Best rated and reputable platform.
- Should add more exchanges.
In conclusion, Blox is a great platform particularly to investors who trade using multiple exchanges. The portfolio tracking service is also impressive as it has charts, prices and an alert system for easy management. Anyone who trades cryptocurrencies will find the platform useful. Institutional traders and brokers like etoro already use Blox, which means the platform is useful for all kinds of traders.
Thank you for reading our Blox review above. Feel welcome to read more guides and reviews from our website.